SeaWorld Entertainment Posts Lower Quarterly Revenue; Misses Estimates (SEAS)

SeaWorld Entertainment Posts Lower Quarterly Revenue; Misses Estimates (SEAS)

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After the bell on Tuesday, Seaworld Entertainment (SEAS) announced its Q2 and first-half of 2013 earnings, posting a fall in quarterly revenues compared to last year’s same quarter, but an uptick in revenues from the first half of 2012.

The Orlando, FL-based theme park and entertainment company announced that Q2 quarterly revenues were down $14.6 million, or 3%, from last year’s second quarter, coming in at $411.3 million. Analysts were expecting $435.5 million. The company reported a net loss for the quarter of $15.9 million, or 18 cents per diluted share. On an adjusted basis, the company had positive income of $36.5 million, or 41 cents EPS. Analysts were expecting EPS to come in at 51 cents.

Seaworld had some better earnings news for the first half of 2013, announcing record revenues of $649.9 million, which marked an 11% increase from the first half of 2012. The company reaffirmed its full year EBITDA guidance at $430-$440 million on revenues of $1.45 billion to $1.48 billion. Analysts are expecting full year revenues of $1.5 billion.

SEAS shares were down 15 cents, or .41%, by market close on Tuesday, and the stock was down more than 12% in after-hours trading. YTD the company’s stock is up more than 8%.

The Bottom Line

Shares of Seaworld Entertainment (SEAS) have a yield of 2.2% based on Tuesday’s closing price of $36.31 and the company’s annualized dividend payout of 80 cents.

Seaworld Entertainment (SEAS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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